Investors are getting two new ways to gain exposure to the infrastructure sector with a pair of exchange traded funds (ETFs).

First Trust launched the ISE Global Engineering and Construction Index Fund (FLM) on Wednesday, while PowerShares Emerging Markets Infrastructure Portfolio (PXR).

FLM focuses on construction and engineering firms, as opposed to a heavy utilities weighting in other infrastructure funds, reports Index Universe.

PXR is more of an emerging market play, designed to measure the performance of companies involved in infrastructure construction in those areas, reports Hedge Funds Review. The industries include machinery, engineering, materials, metals and mining, electrical equipment and steel.

Despite being no less beat up than most other sectors in the global economic downturn, infrastructure is deserving of investor attention. As the markets turn around and loans become easier to come by, building and improvement projects will once again appear.

While emerging and frontier markets clearly have room to grow with infrastructure improvements, we need them here, too. Our power grid is aging, bridges are collapsing and so on.

Other ETFs that are trading in this sector:

• iShares S&P Global Infrastructure Index (IGF), down 49% year-to-date (black line)
• SPDR/FTSE Macquerie Global Infrastructure 100 (GII), down 42.9% year-to-date (green line)

Tags: Emerging Markets, FLM, GII, Green ETFs, IGF, Infrastructure, PXR, Sector ETFs